St. George SENSE account?

[elleandsam]

Sometimes I have trouble saving money, and I was thinking that one of these accounts might just be the way to go. They round up the amount you spent to the nearest dollar and transfer the 'change' into a savings account, I think it would absolutely add up.

Has anyone else got one of these accounts?

[mum23girls]

I can't save money. Mainly because we live week to week, but am thinking of opening one of these accounts because I notice a chunk of $20 missing out of the budget, whereas if it is few cents here and there, its gotta help and yeah, it would add up!

[Nomsie]

I can't remember what it was, but something in the ad for it put me off looking into it.. might have been fees on the account...

You know what they say- if it seems too good to be true, it probably is!

(Plus, as if a bank would give you money for nothing! :laughing:)

[mum23girls]

Nomsie, There are two accounts that are linked. The everday account does have a $5 p/m fee which is the account that you use.... The "saving account" (with no fees) is then linked and the rounded up amount comes out of the everyday account and goes into the savings account. So the bank aren't actually giving you anything for free.

What I am interested in, is if this would count as a savings plan for something like a homeloan?